MILAN (Reuters) – Italy needs a sovereign wealth fund to attract its large private savings to the corporate sector and boost the economy, Italy’s head of government Giorgia Meloni said in an interview with the Milano Finanza newspaper. .
“A national sovereign wealth fund, open to private contributions, could be the right instrument to relaunch investments, directing Italy’s enormous savings towards productive objectives, for the industrial and technological development of the nation”, says Giorgia Meloni.
Italy already has a public credit institution, the Caisse des dépôts, which grants loans to local administrations and invests in projects deemed to be of national interest. But this public financial institution is less active in the corporate sector than a sovereign wealth fund.
Giorgia Meloni also indicated that she was working with the Minister of Economy and Finance, Giancarlo Giorgetti, in order to increase the share of Italians who invest in public debt.
However, it ruled out any reduction in taxation for government bonds.
(Report Francesca Landini, Matthieu Protard)
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